This property comprises 11 distinct apartments, generating a total rental income of R46,300 per month (R555,600 annually).
Apartment Details:
- 1 x 2-bedroom unit with lounge, kitchen, and bathroom: R6,500
- 1 x 1-bedroom unit with lounge and bathroom: R4,700
- 4 x 1-bedroom units with lounge, kitchen, and bathroom: R4,500 each
- 1 x 1-bedroom unit with lounge, kitchen, and bathroom: R4,000
- 3 x Bachelor units with kitchen and bathroom: R3,700 each
- 1 x Bachelor unit with kitchen: R2,000
All tenants are currently on month-to-month leases, with some having resided here for several years and are willing to sign new leases with the new owner. The buyer has the option to retain the current tenants or replace them.
Additionally, four more apartments are nearing completion, and the property will be sold as is. The new owner will be tasked with finishing these units at their own expense, creating an excellent opportunity to increase income once the project is complete.